Metro Global Holdings Corp. (MGH), a subsidiary of Fil-Estate Management Inc., has executed a share transfer deal with Smart Share Investments Ltd., a Hong Kong-based investor, as part of a partial settlement for loans made to FEMI.
The 55 million MGH shares were transferred to Smart Share as partial payment to advances made to FEMI.
On 26 July 2024, the Bureau of Internal Revenue issued a certificate authorizing registration to facilitate the transfer of the shares. Following the issuance of the CAR, the transfer was recorded by BDO Unibank – Trust & Investments Unit, MGH’s stock and transfer agent.
The 55 million shares represent 2 percent stake in MGH. With this transfer, MGH’s public float has increased to 10.67 percent, effectively addressing the company’s previous temporary breach of the minimum public ownership requirement, which had persisted the past five months.
This adjustment in the public float not only ensures compliance with regulatory requirements but also strengthens MGH’s market standing by expanding the proportion of shares available to the investing public. The transaction reflects Metro Global Holdings Corp.’s commitment to maintaining transparency and adherence to market regulations while managing its shareholder structure effectively.
